In the Tax Planner scenario for next year, does accumulated depreciation include this year's depreciation?
The Tax Planner does not consider the current year's depreciation in calculating depreciation in the next year scenario.
The basis used in the current year return is also used by the Tax Planner for next year's scenario. For example, in a 2022 return, the starting basis for the 2022 tax year is used by the software to calculate depreciation for 2022, and it also is used by the Tax Planner to calculate the 2023 tax year scenario.
In the Tax Planner next year scenario, the prior depreciation can be adjusted on screen 4562 to include the current year depreciation amount.
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